当升科技今晚公告，近日，公司及其子公司江苏当升材料科技有限公司、当升科技（常州）新材料有限公司、当升科技（芬兰）新材料有限公司与LG Energy Solution, Ltd.（以下称“LGES”）在韩国首尔签订了《LONG TERM SUPPLY AGREEMENT》（下称“协议”）。① Beijing Easpring Material Technology has signed an overseas L with LGES for a long-term supply agreement worth 14 billion yuan; ② Last Monday, the company announced a framework supply agreement with “old friend” SK On for 0.017 million tons of lithium battery Cathode Material.
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According to Caixin News on March 10 (reporters Liu Yue and Zeng Chuchu), following the announcement last Monday of a framework supply agreement with SK On for 0.017 million tons of lithium battery Cathode Material, the leading company in ternary Cathode Material, Beijing Easpring Material Technology (300073.SZ), has signed another overseas L this month, with LGES for a long-term supply agreement worth 14 billion yuan.
Beijing Easpring Material Technology announced tonight that recently, the company and its subsidiaries Jiangsu Easpring Material Technology Co., Ltd., Easpring Material Technology (Changzhou) New Materials Co., Ltd., and Easpring Material Technology (Finland) New Materials Co., Ltd. signed a "LONG TERM SUPPLY AGREEMENT" (hereinafter referred to as the "Agreement") with LG Energy Solution, Ltd. (hereinafter referred to as "LGES") in Seoul, South Korea.
According to the terms of the agreement, LGES is expected to purchase 0.11 million tons of high nickel and medium nickel lithium battery Cathode Material of various models from Beijing Easpring Material Technology between 2025 and 2027, with specific Order details subject to actual implementation. Based on current market prices, the total amount of the agreement is expected to be 14 billion yuan.
This is Beijing Easpring Material Technology's second overseas L this month. Not long ago, on March 3, Beijing Easpring Material Technology announced a framework supply agreement with another South Korean company, SK On, for 0.017 million tons of lithium battery Cathode Material, expected to procure 0.017 million tons of high nickel and medium nickel lithium battery Cathode Material from Beijing Easpring Material Technology between 2025 and 2027. At the same time, both parties will negotiate further about non-binding additional supply of around 0.11 million tons of lithium battery Cathode Material products from 2026 to 2028.
Public information shows that as a leading ternary Cathode Material manufacturer, Beijing Easpring Material Technology has achieved full coverage of medium nickel high-voltage multi-materials in the 5, 6, and 7 series. The company has emerged in the overseas market and currently maintains partnerships with top domestic and international power battery enterprises such as LG Energy, SK On, Samsung SDI, and Murata.
To expand overseas production capacity, Beijing Easpring Material Technology has established a joint venture, Easpring Material Technology (Finland) New Materials Co., Ltd., responsible for the construction and Operation of the European New Materials industry base project. The overall plan for the European New Materials industry base project is 0.5 million tons, with the first phase's total investment planned at 0.774 billion euros, aiming to build a production line and supporting facilities for 0.06 million tons of lithium battery Cathode Material annually.
In terms of performance, affected by factors such as the overseas new energy vehicle industry's growth rate not meeting expectations, continuous intensification of competition in domestic and foreign markets, a decline in the proportion of sales from international clients, and product iteration and model changes, Beijing Easpring Material Technology's performance is under pressure, with an estimated net income for 2024 expected to be between 0.45 billion and 0.52 billion yuan, a year-on-year decline of 72.98% to 76.61%.
To promote global high-end capacity layout, the company is raising funds and advancing the non-public offering matter. The company plans to raise 0.8 billion to 1 billion yuan through a private placement to its controlling shareholder, Minmetals Group, with the net amount raised after deducting issuance costs to be used entirely to supplement working capital.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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